The pertinent questions regarding trade management:
The importance of pivot levels and support and resistance in planning exits cannot be over emphasised.
But for intra day purpose what time frame should be used to draw important supports and resistance?
1.When to carry a favourable trade to the EOD?
2.When trade first moves in our favour and then reverses quickly, do we let SL hit or get out as a scratch trade or small loss trade?
3.Whether and When to take counter positions.
4.Is there a role for MA, like if we are short, a definite close above a 21EMA or SMA should take us out below our SL?
5.The role of important candlestick patterns like pin bars, engulfing, hammers and barbed wire(Al Brooks) in cementing exits.
6.Direction of MA vis-à-vis our trade direction?
7.Part profit booking.
These are only some of the questions which I feel we can collectively answer to trade better.
Regards
Vivek